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Periodic Reporting for period 1 - QuickTicket (QuickTicket)

Reporting period: 2015-06-01 to 2015-10-31

The objective of the QuickTicket project is to help optimize the capacity of the shows with a last minute ticketing app . The main objective of the feasibility study performed in 2015 is to create a Business Plan (BP), analyse the European ticketing market and create an internationalization strategy.
Quickticket is a smartphone app where you can buy last minute tickets with big discounts. The main target of Quickticket is to make a success of every live show by selling all their tickets. Quickticket launched a MVP in july 2013 in order to test the application and gather users’ feedback so as to evolve the solution. In this feasibility study we have designed an internationalization strategy and finish the MVP to a tested product.
Since July 2013 Qhaceshoy App has grown from one city (Madrid), where the offer was based in barely known events, to three cities (Madrid, Barcelona and Valencia) with established partnerships with the majority of the promoters of Spain and increasing the tickets sale month-by-month. The project has been well-received by the users and the industry and QuickTicket has been awarded with multiple prizes such as Madrid2020, Tetuan Valley, Zinc Shower and by the Spanish Ministry of Tourism.
The focus of our Business Plan and feasibility study, as stated in the SME Phase I proposal, is to measure the total unsold tickets market in different countries. Due to the difficulty to create such a measurement (general purpose) of each EU country, we decided to study the most significative markets focused in live shows like concerts, festivals, musicals, comedy, sports and theatre. Despite the lack of official data in several countries, we estimate that the unsold tickets represent as much as the 30-40% of the ticketing market.
This is due to major problems in the sector, where the most important is the event discovery (i.e. users don’t have the tools to receive accurate and custom recommendations of events that they would like or information about those events at all).
One important outcome from this feasibility study has been the assessment of the rapid evolution in the ticketing sector: barely a day goes by without some kind of announcement involving ticketing, whether it is the launch of a new app, corporate acquisitions, operations expanding into new countries or another venue or promoter rolling out an in-house system. So with ticketing being arguably the most dynamic part of the live entertainment value chain, it’s our hope that this feasibility study comes to keeping tabs on the who, what, why and how for ticketing internationally.
Concurrently, measuring the secondary ticketing importance has been a part of our study. While event promoters are against the secondary ticketing, the rise of the ticket price and the reduction of profit has led some operators to include a secondary ticketing division in order to atract fans who complain about paying booking fees and all sorts of other taxes appended by the ticketing companies.
QuickTicket addresses Europe’s greatest ticketing challenges for the 21st century: the unsold tickets and the event discovery problem. Studies measures between 30 and 40% the market of the unsold tickets. QuickTicket with the revolutionary personalized algorithm is focused on solving this big problems.
Our methodology for collecting the information in this feasibility study has been to speak to established promoters in each country to establish the key ticketing players, while also contacting those companies themselves to gain some insight into their local market. With so many ticketing companies now involved it’s inevitable that we cannot mention everyone.
The work consists in a initial phase talking with the stakeholders of the primary ticketing industry (promoters), talking with online ticket sellers in Spain, contact with online ticket sellers in other countries and contact with other startups in Europe that are trying to solve the same problem as QuickTicket: event discovery, this are at the same time possible partners in an internationalization or competitors.

Also reading Internet resources as blogs, annual international ticketing yearbook, case studies of Juniper Research or startups websites like angellist, crunchbase or techcrunch for getting information about competitors, partners and state of the art in the online ticketing market.

There are also graphics and data created with the data of QuickTicket users and the 500 surveys that the user’s answer.

The main results achieved so far are interesting. Doing this feasibility study where the principal objective is measure the size of the market of the unsold tickets, we realised that there is not official data for this, so we based the study in estimations that said that the market of unsold tickets are between 30-40% of the market.

We show the initial a state of art of the most interesting countries in the EU and a graphic that shows a comparison between them.

There are a lot of ticketing companies and startups playing the competition, but we show their capabilities in the event discovery field in a comparison table. We have established communication with the principal stakeholders in the ticketing market in Europe while elaborating this report.

Using a MVP App in Spain with more than 120.000 users help us to take information of how the users buy mobile tickets. QuickTicket App will continue offering service and will open new ways for maximize benefits thanks to the EU-funding SME H2020.
The final results are clear: there is a big market of unsold tickets in the EU. Only the UK has £3B value of unsold tickets. The biggest markets in the EU are UK, France and Germany. Between 30 to 40 percent of live event tickets go unsold due to people simply not knowing about event. Quickticket’s business plan is focus on event discovery and recommendation in order to mitigate this factor, while leveraging on the the growth of smartphones and mobile ticketing in order to attract customers within the EU area and other countries..
The socio-economic impact of a solution in the european ticketing market will help to increase the live event revenue per capita, decrease the secondary market (that is illegal in many countries), improve the online sales(specially mobile sales), improve the benefits of musicians/promoters and all the value chain in live events, and the treasury of the States because with more ticket sales they will receive more money via VAT of the tickets.
If we take the example of the UK, with £3B (€ 4.22 billion) more in tickets sales, the State will receive a 11% (€464.2 million), and the live event market will improve the market in a 30% more, with all the workers that will need to create the events.
We expected to create a bigger feasibility study but the limitation of 20 pages and the difficulties to find information of some countries make this harder. Also we found unexpected solutions like how to minimize the CAU and CAC offering new services to promoters.
We decide to improve QuickTicket solution to improve the potential impact by:
Develop recommendation algorithm
In summary is a win-win-win game if we can afford and develop with most of the promoters the QuickTicket solution.